SETTINGS

The Chart of Account is where the user can create account codes to be used in the system. The account codes can be classified into Assets, Liabilities, Income or Expense, as well as be grouped into various levels when designing layout of financial reports such as Balance Sheet.
In order to start using Uniq365, some basic Chart of Accounts such as the GST and Currency Codes must be created.

How to Create a Chart of Account?

• Account - Enter a code for this Chart of Account. The maximum is 12 alpha-numeric characters.

• Name -  Enter the description for this Chart of Account e.g. Sales Revenue Account. The maximum length allowed is 40 characters.

• Account Type - Click to select account type. The 4 choices are Income, Expense, Asset and Liability